The Beast of The East: The Rapid Growth and Development of The Medical Market

Healthcare across the US following the pandemic has completely changed and evolved to meet new needs and problems. The east coast medical market specifically is a significant sector of the industry that has seen these rapid developments. The home care industry, the rise of urgent care, telemedicine, and concierge health care are some of the most notable that are skyrocketing in importance as we move towards a post-pandemic society.

In terms of homecare, the current problems being faced are retention, recruiting, and training. Staffing shortages and caregiver turnover rate are threats but are currently viewed as opportunities for growth.

Urgent care centers are also on the rise, as many patients prefer them over emergency departments or visits to their primary care physicians. The growth drivers in the urgent care market are currently a rise in chronic disease worldwide and a growing burden of emergency conditions. Because of this, several hospitals are entering the urgent care market, capitalizing on their benefits of them. Affordability, transparency, efficiency, and accessibility are only some of the reasons for this takeoff in popularity.

Telemedicine has become the primary choice for busy professionals, younger generations, and tech-savvy patients alike. There are several factors driving the growth of this market as well: Growth in healthcare consumerism, consumer expectations of convenience, shifts to revenue models that reward value and increased access to mobile internet. The benefits to telemedicine are clearly endless and will continue to help patients across the country with their medical needs.

Finally, concierge healthcare is a private form of practice where the patients pay out-of-pocket retainer fees for doctors’ services. The projected value by 2030 is $13.3 billion, and the medical services offered are endless. 

Healthcare as we know it is changing, and patients now have more options than ever to receive the medical care that they not only need, but want.